China foreign trade to receive further tech, policy backing

The country will make concerted efforts to achieve breakthroughs in core technologies in key fields. — China Daily

BEIJING: China’s efforts to build modern industries and expand institutional opening-up will create new advantages in international cooperation and competition, especially given the challenges of slowing global demand, geoeconomic shocks and soaring global commodity and energy prices, say government officials and business leaders.

They said these efforts will not only enhance China’s overall economic prowess, but also motivate its exporters to streamline their product structures and capitalise on novel foreign trade formats such as cross-border eCommerce and market procurement trade, therefore expanding their sales in overseas markets.